Pariksha, which helps aspirants prepare for government examinations, bags funding from Venture Catalysts
Pariksha has also launched physical prepaid subscription card (Safalta) to enable offline transactions in the rural economy.
Pariksha, a platform that helps aspirants prepare for government examinations, recently bagged an investment amount of Rs 4 crore from India' s first integrated incubator, Venture Catalysts, in the current USD 1 million pre-series A investment round. With the digitization of government exams, Pariksha serves 'Bharat', who are the 13.6 cr annual Government job applicants, who do not have access to digital means like laptops, in order to practice for a CBT (Computer based test).
The online vernacular competitive examination preparatory platform operates across 6 states in the country. Founded by alumni of IIT Kanpur and Symbiosis Institute of Business Management, Pune, Pariksha has already acquired more than 1 million mobile first internet users along with 25,000 paid subscribers.
Venture Catalysts, sees potential in the Government job exam Test Preparation market, leading it to invest. Students, with Pariksha, benefit from subscription based, affordable, vernacular online test preparation mobile application. With this, the students can learn, practice and prepare for State Government Job Exams anywhere, at any given time.
Additionally, Pariksha has also launched physical prepaid subscription card (Safalta) to enable offline transaction in the rural cash economy available at retail outlets across the State.
Elaborating on the prospects brought forth by this investment, Karanvir Singh, Co-Founder, Pariksha said, “ We developed Pariksha as an all-in-one empowerment platform, helping students to prepare for examinations in the most convenient and enriched manner. This investment will help us to strengthen our product offerings, bolster back-end operations and expand our reach all over India. We are also looking forward to benefit from the insights and experiences of the leading entrepreneurs, investors and experts in the VCats’ network.”
Commenting on the investment, Dr. Apoorv Ranjan Sharma, Co-Founder & President, Venture Catalysts said, “The Indian academic scenario proposes a huge market for Ed-tech platforms, and Pariksha has already established itself as a strong player in this segment. Pariksha’s team has a clear vision and a massive target audience spanning not only tier-II, III cities and rural regions, but also a certain student demographic in urban centers.”